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Colgate to Buy Switzerland's GABA

U.S. Titan Raises Its Bet
On European Oral Care

By

Vanessa O'Connell and

Bill Platt Staff Reporters of THE WALL STREET JOURNAL

Updated Dec. 19, 2003 12:01 a.m. ET

Colgate-Palmolive Co. agreed to buy closely held Swiss oral-care-products company GABA Holding AG, deepening Colgate's exposure to the European oral-care market in its first major acquisition since 1995.

The New York consumer-products company faces fierce competition from rival Procter & Gamble Co., maker of Crest toothpaste, which has been gaining strength in oral care. Colgate said it will pay 800 million Swiss francs to 1.05 billion francs ($630 million to $830 million or &euro;514 million to &euro;675...